MSCI’s gauge of stocks across the globe gained 8.38 points, or 0.82%, to 1,028.02

Major stock indexes and oil prices rose on Monday, with energy shares jumping.

In the U.S., the Dow Jones Industrial Average hit a record high. The S&P 500 energy index rose to its highest since March 2025.

Trump is reportedly planning to meet with executives from U.S. oil companies later this week to discuss boosting Venezuelan oil production.

Oil prices were also higher as traders assessed the possible impact on crude flows from Venezuela, home of the biggest global oil reserves.

It’s a reasonable reaction from the markets to largely ignore the geopolitics around Venezuela, with the exception of a handful of oil companies, which are spiking, said Oliver Pursche, senior vice president, advisor at Wealthspire Advisors in Westport, Connecticut.

Venezuela’s GDP has virtually no impact on global GDP, so the market should ignore it, he said, noting that U.S. economic data this week will be key to the outlook for interest rates.

The Dow Jones Industrial Average gained 594.79 points, or 1.23%, to 48,977.18, the S&P 500 added 43.58 points, or 0.64%, to 6,902.05 and the Nasdaq Composite advanced 160.19 points, or 0.69%, to 23,395.82.

MSCI’s gauge of stocks across the globe gained 8.38 points, or 0.82%, to 1,028.02.

The pan-European STOXX 600 index added 0.94%. the so-called emerging market stocks advanced 21.63 points, or 1.51%, to 1,451.11.

Brent crude futures gained $1.01 to settle at $61.76 a barrel.

Gold advanced to a one-week high on bullion’s safe-haven appeal.

Spot gold hit its highest level since December 29. U.S. gold futures for February delivery rose 2.8% to settle at $4,451.5 an ounce.